If you have business liability insurance coverage for your business, you may have business interruption coverage.
Business interruption insurance helps protect against lost income after a covered disaster impacts a business. Covered perils typically include theft, fire, wind, falling objects or lightning. It is not clear whether the mandatory shutdowns caused by COVID-19 qualify as covered perils.
Business interruption coverage can compensate you for lost income and for extra expenses caused by the disaster.
To be safe, be sure to read your business insurance policy documents and check with your insurance agent to see if you have coverage.
Business interruption insurance helps protect against lost income after a covered disaster impacts a business. Covered perils typically include theft, fire, wind, falling objects or lightning. It is not clear whether the mandatory shutdowns caused by COVID-19 qualify as covered perils.
Business interruption coverage can compensate you for lost income and for extra expenses caused by the disaster.
To be safe, be sure to read your business insurance policy documents and check with your insurance agent to see if you have coverage.
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